White Spirits Market
Global white spirits market is estimated to be valued at USD 6.55 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031. White spirits, also known as mineral spirits, are clear, volatile hydrocarbon liquids that are derived from petroleum distillation. These are refined to remove polar compounds and are composed of aliphatic, alicyclic and aromatic hydrocarbons in the C7-C12 range. White spirits have a wide range of applications as solvents and thinners for paints, varnishes and other surface coatings. These have low toxicity and are widely used for industrial cleaning and degreasing.
Market Dynamics-
Global white spirits market growth is driven by factors such as growing construction industry and increasing demand for paints and coatings. White spirits serve as an important solvent/diluent as well as cleaner for various surface coatings. Flourishing infrastructure development and rising residential and commercial construction activities have boosted the consumption of paints and coatings globally. Moreover, stable raw material supply and availability of high-purity white spirit grades have augmented their use in different end-use industries. However, strict environmental regulations regarding Volatile organic compounds VOC emissions and rising popularity of bio-based and water-based solvents can pose challenges to market players.
Key features of the study-
- This report provides in-depth analysis of the global white spirits market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global white spirits market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include ExxonMobil Corporation, Royal Dutch Shell Plc, Total S.A., Idemitsu Kosan Co., Ltd., Compañía Española de Petróleos, S.A.U. (CEPSA), Neste Oyj, Haltermann Carless Deutschland GmbH, DHC Solvent Chemie GmbH, Al Sanea Chemical Products, and GSB Chemical Co. Pty. Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- Global white spirits market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global white spirits market
Market Segmentation
Table of Contents
* Browse 50 market data tables* and 40 figures* on “White Spirits Market” – Global forecast to 2031.
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